Thursday, January 10, 2013
Dwolla increases transaction limits
Dwolla Inc., the Iowa-based online and mobile payment company famous for only charging a $0.25 transaction fee for purchases of more than $10, is allowing designated entities to make transfers that involve large sums of money, the company said in a blog published Jan. 8, 2013.
"Dwolla has always believed that it costs the same amount of money to move $11 as it does $51 million," the company said.
The new policy will allow merchants and nonprofit organizations access to higher transaction limits in what Dwolla called "narrowly defined situations" such as when the entities are:
- Accepting and settling tax payments
- Moving money between vendors
- Buying raw materials
- Purchasing equipment
- Executing real estate transactions
"This means a safer, faster and easier way to send millions for just a quarter," the company said.
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